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Sunland Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $15,300. 7 Purchased
Sunland Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $15,300. 7 Purchased equipment for $27,200 cash 11 Paid $5,100 for a 1-year insurance policy. 14 Paid accounts payable of $11,900. 18 Declared cash dividends of $8,000. Additional information: As of February 1, 2025, current assets were $129,200 and current liabilities were $34,000. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 1.83:1) Current ratio as of February 1, 2025 Feb.3. Feb. 7 :1 :1 :1
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